The Multi-Agent Systems subfield of artificial intelligence is the foundation upon which the Fetch.ai(FET) network is based. The Cosmos-SDK is the foundation of the cross-chain Fetch.ai network, which uses a high-performance smart contract language based on WASM and is based on the Cosmos-SDK (CosmWasm). Consequently, the Fetch.ai network may serve as both an interchain bridge to the rest of the blockchain community and a Layer 1 network for Ethereum.
What is FET Token?
A FET token is a cryptocurrency. The main form of exchange in the Fetch.ai ecosystem is the FET token. You must use FET to pay for any services offered by Fetch.ai.
Any agreement between agents over a result can be recorded using FET on the Fetch.ai blockchain.
The Price of Fetch.ai (FET Token)
At the time of writing, FET price is $0.27 per unit. It has a market cap of $154,618,827 and a fully diluted market cap of $643,941,393. It also has a 24-hour trading volume of $446,087,154.
FET Autonomous Ecosystem
Fetch.ai has a better Autonomous Ecosystem.
- Agents-P2P interactions made possible by reusable and modular programming that adds a new level of communication.
- Network-Smart contracts and the blockchain network are used for financial settlement.
- Learn & Infer-Decentralized machine learning gave agents creative options to work with.
- Tooling-Utilize our client library to create applications, our indexer to speed up querying, and our CLI tool to deploy and test contracts.
Fetch.ai’s technical architecture
The agents of Fetch.ai operate as a network of independent parties in an autonomous machine-to-machine ecosystem and communicate with one another directly through the blockchain network.
- Negotiation-Finding, bargaining, and dealing with other autonomous economic agents are all automated processes that don’t include any user involvement.
- Blockchain-Use FET to record any agreement between agents on the Fetch.ai blockchain.
- Incentives-The Fetch.ai incentive system rewards your stakeholders for making model contributions that help you improve your operations and products.
How Does Fetch.ai(FET) Work?
The Fetch.ai network relies on three key components: autonomous economic agents, the open economic framework, and the fetch smart ledger to build the tools and infrastructure for a smart AI-based autonomous economy. The network as a whole, powered by machine learning and AI, is made up of these three elements.
Autonomous Economic Agents represent objects, services, groups, and people on the network and take action on their behalf. Within the Fetch.ai ecosystem, AEAs are developed as digital citizens with the capacity to learn from past errors, resulting in the provision of more effective solutions and improving system performance generally through AI. Agents use the predictive capabilities of the Fetch.ai system and are connected to data sources and hardware environments.
The use cases of Fetch.ai(FET)
- CoLearn-CoLearn is a collective learning system powered by blockchain that enables different stakeholders to create a common machine learning model. Without requiring participant trust, CoLearn liberates data from silos and enables machine learning collaboration.
- Axim-Businesses can use Axim to safely and securely connect data silos, acquire important insights to help them optimize their business processes through machine learning models, and do all of this without compromising the privacy of their data.
- Atomix-Holders of stablecoins can supply liquidity through Atomix and get an annual dividend made up of protocol-generated returns and ATMX awards. When compared to rewards provided by traditional and decentralized finance (DeFi), that yield is very competitive.
- MOBIX-With its incentive program for environmentally friendly urban transportation, MOBIX encourages the micromobility ecosystem. With MOBIX, you can receive incentives or prizes for using your services, whether you utilize or offer infrastructure for micromobility.
- Catena-X-The Catena-X Automotive Network, which includes Fetch.ai, intends to develop an open environment for the effective and secure sharing of information along the whole automotive value chain. All businesses in the European car sector, as well as their international clients, users, and equipment providers, will have access to the cloud-based network.
Fetch.ai is designed to automate and artificial intelligence skills, whether or not they have direct access to the blockchain, can be used to power peer-to-peer applications.